Economic Growth vs Cultural Growth Economic growth and cultural growth are both needed in order for a country to “grow”. A country’s progress is not determined by its economic growth alone; it is also determined by its cultural growth. Sometimes people get confused as to how these two differ from each other. Economic Growth Economic […]
Difference Between GDP and GDP per Capita
GDP vs GDP per Capita GDP and GDP per Capita are two of the measures that spell the economic state of a country. Gross Domestic Product (GDP) is a criterion of judging the health of the economy of a nation. It represents the total value of goods and services produced over a specific period of time […]
Difference Between CPI and RPI
CPI vs RPI CPI and RPI are indices used to measure inflation in UK. CPI is Consumer Price Index, also called Harmonized Index of Consumer Prices (HICP). RPI is the Retail Price Index which measures change in prices of a basket of goods and services over a period of time. RPI RPI was devised to […]
Difference Between CPI and Inflation
CPI vs Inflation CPI and Inflation are terms related to the economy of a country. Difference between CPI and inflation has been a confusing and perplexing one. CPI (or Consumer Price Index) has been merely an attempt to measure inflation in any economy where the prices of commodity have been rising over a given period […]
Difference between Wholesale Price Index (WPI) and Consumer Price Index (CPI)
Wholesale Price Index (WPI) vs Consumer Price Index (CPI) Wholesale Price Index (WPI) and Consumer Price Index (CPI) are two of the many indices that play the integral part in setting the good’s price in the market. Without these two indices, the market would fall into chaos. These indices are great tools for different businesses […]
Difference Between Consumer Price Index (CPI) and Gross Domestic Product (GDP) Deflator
Consumer Price Index (CPI) vs Gross Domestic Product (GDP) Deflator Consumer Price Index (CPI) and Gross Domestic Product (GDP) deflator are the two measures of inflation. While people may get confused on how to distinguish one from the other, CPI and GDP deflator have their own purpose of why they exist and being used in […]
Difference Between Factory and Industry
Factory vs Industry Though factory and industry are intertwined in the development of the economy of a country or a state, there is a significant difference between the two. A factory is a manufacturing plant. Industry refers to the production of a material or service within an economy. This is the main difference between […]
Difference Between Need and Want
Need vs Want Although it is true that need and want are two terms used in describing any economic situation, there are differences between the two. The two terms are often used in expressions that convey the sense of acquiring things. This is the reason they are confused as interchangeable. Simply a need can […]
Difference Between Macroeconomics and Microeconomics
Macroeconomics vs Microeconomics The recent financial crisis in the world created huge losses for companies as the purchasing power of the individuals declined and inflation heightened. The world economy stumbled; especially the middle and the lower class that is the maximum population of the entire world. In inflationary conditions, it is the middle and the […]
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